Also want to throw out that while TT in top 50 is obviously very difficult for most people in most schools. I think that if you temper your expectations most people can find a job in academia, industry, or govt which is better paying that what most people will make, and be more rewarding than most peoples' work. For this reason, try not to worry too much guys. Just getting into a PhD progam puts you in a select group with a lot of good options as long as you love economics!